House Addresses Payment Shift Tuesday

The House Education Finance committee on Tuesday morning will review legislation related to the school payment shift. HF 1 would mandate the school payment schedule to 90/10 by the start of the next fiscal year which begins July 1, 2013. The current payment schedule is 82.5/17.5, therefore at a cost of $70 million/point HF 1 costs about $525 million.

The hearing will include debate on three other bills related to school payment schedules. HF 235 would require a three-fifths vote of the legislature to enact a school payment schedule below 90/10 and to or to increase the school property tax recognition shift.